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European morning wrap: Euro gets hit by run of really crappy data

German April sa unemployment rises +19,000, demonstrably weaker than Reuters median forecast of +10,000. Jobless rate up to 6.8%, worse than Reuter's median forecast of 6.7%
Eurozone March unemployment rate 10.9% from 10.8% in February
Italy March adj unemployment rate 9.8%, up from revised 9.6% in February and demonstrably weaker than Reuter's median forecast of 9.4%
Spanish April manufacturing PMI 43.5, down from 44.5 in March and lowest since June 2009
Italy's April manufacturing PMI 43.8, down sharply from 47.9 in March and demonstrably weaker than Reuter's median forecast of 47.0
Greek April manufacturing PMI 40.7, down from 41.3 in March
Euro zone April final manufacturing PMI 45.9, down from 47.7 in March, fractionally lower than flash estimate of 46.0 and lowest read since June 2009
Ex-PBOC adviser Yu: European crisis may be far from over. Worst may be yet to come for Europe
Swiss April PMI 46.9, down sharply from 51.1 in March and demonstrably weaker than Reuter's median forecast of 50.5
UK April construction PMI 55.8, down from 56.7 in March, but better than median forecast 54.0
S&P raises Greece ratings to CCC/C from selected default: outlook stable
Portuguese auction results
Moody's: Japan could face "day of reckoning" if tax plans fail
Slump in tourism may cut Greek GDP by 2-3% this year - ekathimerini.com
Electoral silence on France's slow economic decline - AEP at The Telegraph

Single currency hit by run of poor data this morning. Eurostoxx 50 has given back earlier healthy gains to stand about -0.25% under water.

EUR/USD down at 1.3140 from early 1.3230 having been as low as 1.3130. Stops tripped through 1.3200, 1.3180 and 1.3170 accelerating the slump before BIS stepped in buying circa 1.3166 on EBS. Their action lent temporary support, but thats all it proved, and eventually further stops gave out through 1.3160 for the last leg lower.

USD/JPY effectively unchanged at 80.30. Initial gains to 80.60 were given back as EUR/JPY came under accelerated selling pressure.

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It does not represent the opinion of Benzinga and has not been edited.